Apple (NASDAQ:AAPL) – The new artificial intelligence features of Apple, set to be released with iOS 18 and iPadOS 18, will be available only a few weeks after the updates in September. Apple plans to begin testing Apple Intelligence for developers with the betas of iOS 18.1 and iPadOS 18.1 this week. General availability will be delayed due to European Union regulations. Additionally, Apple has adopted the Biden administration’s new voluntary AI guidelines, following companies like OpenAI and Microsoft. These rules require AI testing for discrimination and security failures, and demand transparency with governments and academics. This comes as Apple prepares to integrate ChatGPT into its voice assistant. Moreover, the IAM CORE Retail Employees Coalition of IAM reached a provisional agreement with employees at a Maryland store to improve work-life balance, offer 10% wage increases, and ensure job security. Workers at the Apple store in Towson, Maryland, will vote on the agreement on August 6. Shares rose 0.3% in pre-market.
Philips (NYSE:PHG) – In the second quarter, Royal Philips recorded a 9% increase in new orders, the first rise in two years, after resolving issues with its sleep apnea machines. Adjusted earnings before interest, taxes, and amortization (EBITA) reached 495 million euros ($537.4 million), surpassing estimates. The adjusted EBITA margin rose to 11.1%. The company projects sales growth of 3-5% and an adjusted EBITA margin of 11-11.5% for 2024, with free cash flow forecasted between 0.8 and 1 billion euros. The proposed dividend remained at 0.85 euros per share. Shares rose 10.2% in pre-market.
Abbott Laboratories (NYSE:ABT) – Abbott Laboratories was ordered to pay $495 million, $95 million in compensation, and $400 million in punitive damages for concealing risks of its premature baby formula associated with a severe intestinal disease. The verdict heightens concerns about the safety of Abbott’s infant products. Abbott’s shares fell 7.1% in pre-market.
Centene Corp (NYSE:CNC) – Centene Corp expects its medical costs to improve next year with states reassessing Medicaid enrollments. Although healthcare utilization remains high, the company believes this situation is temporary and that its Medicaid business should normalize.
Indivior (NASDAQ:INDV) – Indivior agreed to an $86 million settlement with 16 U.S. states for its alleged role in the opioid crisis. The company is accused of promoting the improper use of its buprenorphine-based medications, used to treat addiction but potentially contributing to dependency. The amount will be used for addiction treatment and prevention. Shares fell 2.4% in pre-market.
GSK Plc (NYSE:GSK) – GSK confidentially settled a Zantac case with Ronald Kimbrow without admitting liability. The lawsuit will be dismissed. GSK and other pharma companies face litigation claiming Zantac may cause cancer. Despite 16 studies finding no evidence of risk, GSK continues to defend itself. Shares rose 0.8% in pre-market.
Microsoft (NASDAQ:MSFT) – LinkedIn agreed to pay $6.625 million to settle a class action accusing it of inflating video ad view counts, overcharging advertisers. The preliminary settlement, requiring court approval, includes hiring an external auditor to review its ad metrics for two years. LinkedIn denies wrongdoing, but affected advertisers will receive compensation. Shares rose 0.5% in pre-market.
Amkor Technology (NASDAQ:AMKR) – Amkor Technology will receive $400 million in grants and $200 million in loans from the U.S. government for a chip packaging project in Arizona. The funding, part of the 2022 Chips and Science Act, will support a new $2 billion facility in Peoria, creating about 2,000 jobs and boosting U.S. semiconductor manufacturing.
Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) – Amazon MGM Studios partnered with Scott Stuber, former Netflix film chief, to fund and launch movies from his new production company. Stuber will produce films for the relaunched United Artists, to be shown in theaters and on Prime Video. UA was originally founded by Charlie Chaplin in 1919 and acquired by MGM in 1981. Netflix shares rose 0.3% in pre-market.
Walt Disney (NYSE:DIS) – Disney’s “Deadpool & Wolverine” grossed $205 million in its opening weekend in the U.S. and Canada, breaking the record for R-rated films. The film exceeded expectations and the success of “Joker.” Starring Ryan Reynolds and Hugh Jackman, it also helped revitalize the Marvel Cinematic Universe and brought relief to cinema chains. Shares rose 1% in pre-market.
Warner Bros Discovery (NASDAQ:WBD) – Warner Bros Discovery sued the NBA for rejecting its offer to match a third-party proposal for broadcasting rights. Turner Broadcasting, which invested billions in rights and production, claims the NBA violated its contract by not allowing it to match Amazon’s offer. The NBA says the allegations are unfounded. Shares rose 0.2% in pre-market.
Rogers Communications (NYSE:RCI) – Rogers Communications shares have fallen about 19% since January. However, analyst Vince Valentini believes it’s a good time to buy, as the recent price hikes by operators and the Bank of Canada’s rate cuts should boost the company, promising significant recovery. Shares are stable in pre-market.
DraftKings (NASDAQ:DKNG) – A study found that the legalization of online sports betting since the 2018 U.S. Supreme Court decision increased consumers’ financial stress. In states where online betting is allowed, there has been an increase in loan delinquencies and bankruptcies. The research, led by Brett Hollenbeck, suggests financial problems may offset some expected fiscal benefits. Shares rose 0.7% in pre-market.
MGM (NYSE:MGM) – BetMGM expects similar losses in the second half as in the first six months due to investments in marketing and customer experience. After a $123 million loss in the first half, the company, the third largest in U.S. online betting revenue, expects revenue growth in 2025. Shares fell 0.3% in pre-market.
Alibaba (NYSE:BABA) – Alibaba announced it will start charging a 0.6% service fee on confirmed transactions on its Tmall and Taobao platforms starting in September. The change aims to boost the company’s revenue and is similar to practices adopted by other e-commerce platforms. The new policy will replace the current annual fixed fee and may exempt small merchants. Shares rose 3% in pre-market.
Amazon (NASDAQ:AMZN) – In Italy, an Amazon unit is being investigated for tax evasion, focusing on duties and customs fees. This inquiry, initiated in 2021, is unrelated to a recent seizure of 121 million euros from another Amazon unit in Italy. The suspected evasion amount has yet to be defined. Shares rose 0.6% in pre-market.
Walmart (NYSE:WMT) – Walmart plans to invest up to $200 million in autonomous forklifts for its distribution centers, aiming to automate operations and reduce costs. The company intends to acquire hundreds of units from Fox Robotics, with an initial investment of $25 million. Automation is part of a broader strategy to improve efficiency and reduce reliance on manual labor.
Starbucks (NASDAQ:SBUX) – Former Starbucks CEO Howard Schultz, the sixth-largest shareholder, opposes a potential deal with activist investor Elliott Investment Management. Schultz expressed his resistance to the board, while Elliott seeks to improve Starbucks’ stock performance. Shares rose 0.2% in pre-market.
McDonald’s (NYSE:MCD) – McDonald’s will release its second-quarter results before the market opens today. It is expected to report $6.62 billion in revenue for Q2, up 1.9% from last year. Earnings are estimated at $3.07 per share, about 3.2% lower than the same period last year. The $5 promotion may negatively impact profit margins. Despite a 15% drop in shares this year through last Friday, analysts have a median price target of $302, suggesting a 20% upside. Shares rose 0.1% in pre-market.
Boeing (NYSE:BA) – Boeing is searching for a new leader following Dave Calhoun’s departure at year-end. Kelly Ortberg, former Rockwell Collins chief, is a top candidate for Boeing CEO, according to The Air Current. Other contenders include Pat Shanahan of Spirit AeroSystems and Stephanie Pope of Boeing. Additionally, Boeing is asking suppliers to provide records of Chinese titanium since 2014 after discovering fake documents used to authenticate the metal in commercial jets. The investigation, also affecting Airbus, aims to ensure compliance and safety of parts.
Ryanair (NASDAQ:RYAAY) – Ryanair contested a $163 million (€150 million) bailout granted by Austria to Austrian Airlines during Covid-19, claiming it distorted competition. However, the EU court ruled that the aid did not violate EU rules, considering the pandemic’s impact and the airline’s size. Shares rose 0.1% in pre-market.
Ferrari (NYSE:RACE) – In July, a Ferrari executive received fake messages from CEO Benedetto Vigna via WhatsApp, using a different photo and number. The scam involved a convincing imitation of Vigna’s voice to discuss a confidential deal, but the executive grew suspicious and sought confirmation on a previously recommended book. Ferrari is investigating the case.
Honda Motor (NYSE:HMC), Mitsubishi Motors (TG:MIE1), Nissan (TG:A282LM) – Rumors suggest Mitsubishi Motors is negotiating to join the strategic partnership between Nissan and Honda. The collaboration aims at electric vehicle components and software, without capital merger. Growing pressure to reduce tech costs is forcing automakers to unite. Honda shares rose 1.3% in pre-market.
Stellantis (NYSE:STLA) – Stellantis NV CEO Carlos Tavares faces challenges. Despite his cost-cutting strategy, the company struggles with low sales of Jeep SUVs and Ram trucks, resulting in weak financial performance. Since January, Stellantis has lost 40% of its value and saw the departure of seven senior executives. Shares fell 2.9% in pre-market.
Tesla (NASDAQ:TSLA) – Over the weekend, Tesla offered 1.99% financing for Model Y buyers in the U.S. with delivery by September. Tesla shares closed down 0.2% last Friday. Despite another analyst downgrade and a 12% drop after weak earnings, factors like restructuring and selling regulatory credits helped stabilize shares. Tesla, traditionally seen as a carmaker, is viewed by some as an AI company due to its leadership in autonomous driving technology. Compared to Nvidia, which dominates the GPU market, Tesla presents an interesting tech investment perspective despite its higher stock price and stabilized revenue. Shares rose 0.8% in pre-market.
Rivian Automotive (NASDAQ:RIVN) – Volkswagen and Rivian are considering forming a joint venture, as disclosed by the German competition authority. Andreas Mundt, head of the Bundeskartellamt, stated there are “no serious competition concerns” regarding the partnership. Shares rose 0.9% in pre-market.
Union Pacific (NYSE:UNP) – Union Pacific interfered with a federal safety audit by coaching employees on how to respond, leading the Federal Railroad Administration to cancel the review. Senator Maria Cantwell initiated an investigation and requested documents related to the audit, citing concerns about the company’s safety culture and high derailment rate. Shares rose 0.9% in pre-market.
3M (NYSE:MMM) – 3M shares rose 23% on Friday, their biggest single-day gain ever, driven by better-than-expected second-quarter earnings and an optimistic annual outlook. Shares rose 0.3% in pre-market.
Diageo (NYSE:DEO) – Diageo is expected to report its first annual sales decline since 2020. The company faces challenges in North America and Latin America, with market share losses and weak sales. Analysts project a 0.2% decline in net sales. Investors are concerned about ongoing competition and inventory issues. Shares fell 0.9% in pre-market.
Heineken (EU:HEIA) – Heineken reported a $949 million (€874 million) loss due to the write-down of its 40% stake in China Resources Beer Holdings. Heineken’s operating profit forecast was reduced to 4-8% growth in 2024, down from a previous single-digit growth expectation.
Visa (NYSE:V) – The Reserve Bank of India fined Visa $288,000 (24.1 million rupees) for implementing a payment solution without necessary authorization. Visa stated it will comply with RBI guidelines. The move is part of a broader effort by the central bank to increase oversight of fintechs in India. Shares rose 0.4% in pre-market.
Bank of America (NYSE:V) – Michael Hartnett of Bank of America warns that the recent rally in big U.S. tech stocks may weaken if the economy continues to slow. He predicts a rotation to smaller, cheaper stocks and highlights that the global economy may be in poor shape, which could negatively impact large tech stocks.
Morgan Stanley (NYSE:MS) – Michael Wilson of Morgan Stanley warned that a pessimistic outlook for U.S. corporate earnings could negatively impact economy-linked stocks due to falling inflation and its effect on pricing power. He notes that cyclical sectors, more dependent on inflation, are struggling, and the S&P 500 has faltered since July due to fears of rapid rate cuts. The rotation to smaller, cheaper stocks is also not materializing, with emphasis remaining on large-cap stocks. Shares rose 0.3% in pre-market.
Charles Schwab (NYSE:SCHW) – Executives Walt Bettinger and Rick Wurster bought Schwab shares after the stock fell due to weak second-quarter results. Bettinger purchased 25,000 shares at $66.26 each, while Wurster bought 10,000 shares at $62.05 each. Shares fell 1.1% in pre-market.
Nasdaq (NASDAQ:NDAQ) – Nasdaq reported that Thoma Bravo will sell 41.6 million of its shares in a secondary offering, reducing its stake from 14.9% to 7.4%. After the sale, raising $2.79 billion, Thoma Bravo will become Nasdaq’s fifth-largest shareholder.
Apollo Global Management (NYSE:APO), Sony (NYSE:SONY) – Apollo Global Management invested $700 million in Sony Music Group, allowing its clients to access high-quality alternative investments. The transaction, whose terms were not disclosed, reflects the growing interest in music assets, driven by streaming rights earnings and industry cash flows. Sony shares fell 0.4% in pre-market.
Pershing Square USA – Bill Ackman’s closed-end fund Pershing Square USA’s IPO was delayed, with a new date yet to be set. Initially scheduled for pricing at $50 per share and debut on the NYSE, it is now expected to be priced late next week. Ackman aimed to raise $25 billion, but may reduce it to $2.5 to $4 billion.
Bank of Nova Scotia (NYSE:BNS) – Bank of Nova Scotia resolved a technical issue affecting thousands of customers in Canada, causing check and payment delays. The bank confirmed all payments will be credited and any fees resulting from the issue will be refunded. Over 3,000 customers reported the problem. Shares rose 0.1% in pre-market.